Others are working on it, too. I posted one link (now expired) in https://www.ford-trucks.com/forums/5...kton-oil.html; they were supposed to have an operational plant by the end of 2007, according to: http://ipsnews.net/news.asp?idnews=34239

Unlike regular crops, this could, at least in theory, produce enough fuel to replace fossil fuels, though I still think that photovoltaic cells can yield more energy from the same amount of land.